Curi RMB Capital LLC Grows Stake in Primis Financial Corp. $FRST

Key Points

• Curi RMB Capital LLC increased its holdings in Primis Financial Corp. by 2.9% in the first quarter, now owning 893,536 shares valued at $8.73 million.
• The stock currently has a consensus rating of "Buy" from analysts, with a target price of $7.50, despite a recent earnings miss.
• Primis Financial recently announced a quarterly dividend of $0.10 per share, resulting in an annual yield of 3.6% and a payout ratio of -444.44%.

Curi RMB Capital LLC increased its position in Primis Financial Corp. (NASDAQ:FRST - Free Report) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 893,536 shares of the company's stock after acquiring an additional 25,000 shares during the period. Curi RMB Capital LLC owned approximately 3.61% of Primis Financial worth $8,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Primis Financial by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,160,127 shares of the company's stock valued at $13,527,000 after buying an additional 28,930 shares in the last quarter. Rhino Investment Partners Inc purchased a new stake in Primis Financial in the 1st quarter valued at approximately $6,818,000. Segall Bryant & Hamill LLC purchased a new stake in Primis Financial in the 1st quarter valued at approximately $1,634,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Primis Financial by 7.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,206 shares of the company's stock valued at $1,516,000 after buying an additional 10,724 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Primis Financial by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 140,406 shares of the company's stock valued at $1,372,000 after buying an additional 2,831 shares in the last quarter. Hedge funds and other institutional investors own 74.96% of the company's stock.

Primis Financial Trading Up 0.4%

Primis Financial stock traded up $0.04 during midday trading on Wednesday, reaching $11.00. The stock had a trading volume of 6,754 shares, compared to its average volume of 92,389. Primis Financial Corp. has a twelve month low of $7.59 and a twelve month high of $12.95. The stock has a market capitalization of $271.04 million, a PE ratio of -122.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.95 and a current ratio of 0.98. The stock's 50-day simple moving average is $11.28 and its 200 day simple moving average is $10.09.

Primis Financial (NASDAQ:FRST - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.13). Primis Financial had a negative net margin of 0.93% and a negative return on equity of 2.02%. The firm had revenue of $42.36 million during the quarter, compared to analyst estimates of $28.13 million. Analysts expect that Primis Financial Corp. will post 1.4 EPS for the current year.

Primis Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.10 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.6%. Primis Financial's dividend payout ratio (DPR) is presently -444.44%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Primis Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $7.50.

Primis Financial Profile

Primis Financial Corp. operates as the bank holding company for Primis Bank that provides a range of financial services to individuals and small and medium sized businesses in the United States. Its deposit products include checking, NOW, savings, and money market accounts, as well as certificates of deposits.